Ganesh Infraworld, a small and medium-sized enterprise (SME), made a significant trading debut on Friday, December 6. The stock was listed on the NSE SME platform, Emerge, at a 90 per cent premium.
The initial public offering (IPO) price of Rs 83 per share was higher than the opening price of Rs 157.7 per share for Ganesh Infraworld stock. The stock price increased by 5 per cent within minutes of the session starting, reaching a high of Rs 165.55 per share, which nearly doubled the investors’ money.
Listing gains for the Investors
Since 1,600 shares were the minimum amount required to apply for the Ganesh Infraworld IPO, successful bidders who were given shares in the primary issue were able to realize listing gains of at least Rs 1.19 lakh (Rs 74.70 x 1,600) as soon as the stock traded on the exchange.
Subscription across all categories
The three-day bidding period for the Ganesh Infraworld IPO saw nearly 370 subscriptions, with bids for 276.67 crore shares being received out of the 74.86 lakh shares available.
The retail investor category saw over 274 oversubscriptions to the public offering. While the qualified institutional buyers (QIB) portion was overbid by nearly 164 times, the non-institutional investors (NII) category was the most subscribed, at about 866 times.
IPO size and structure
The RS 98.58 crore Ganesh Infraworld IPO was a book-built offer that only included a new issuance of 118.77 lakh shares.
Price band and minimum bid
The price range for the IPO was Rs 78 to Rs 83 per share. The minimum lot size for retail investors was 1,600 shares, which equated to a Rs 1,32,800 investment.
The minimum investment required of High Net Worth Individuals (HNIs) was Rs 2,65,600 for two lots of 3,200 shares.
Company financials
Ganesh Infraworld reported a profit-after-tax of Rs 15.37 crore for the fiscal year that ended on August 31, 2024, with revenue of Rs 212.32 crore. During that time, Ganesh Infraworld’s net worth was Rs 66.17 crore.
Revenue for Ganesh Infraworld increased by more than 116 per cent to Rs 291.81 crore in FY24 from Rs 135.04 crore in FY23. The company’s net profit for the fiscal year that ended on March 31, 2024, was Rs 15.54 crore, up more than 198 per cent from the previous year’s Rs 5.2 crore.
